EdF Renewable Energies records strong growth in 2007
EDF Energies Nouvelles again posted very strong growth and met or exceeded all the objectives:
• EBITDA of €134.3 million (up 46.3%),
multiplied by 2.2 over two years
• Net income of €51.4 million (up 134.7%),
multiplied by 3,1 over two years
• Installed wind energy generation capacity of 1,218 MW (up 50%). At its meeting on 21 February 2008, chaired by Pâris Mouratoglou, the Board of Directors of EDF Energies Nouvelles approved the Group’s consolidated financial statements for the 2007 financial year.
Consolidated financial statements (in millions of euros) 2006 2007 % change
Revenues 334.8 560.5 +67.4%
EBITDA 91.8 134.3 +46.3%
Operating income 61.7 95.5 +54.8%
Net financial income/(expense) (23.8) (24.6) -3.4%
Net income 27.5 53.7 +95.3%
Net income, Group share 21.9 51.4 +134.7%
Commenting on this report, Pâris Mouratoglou, Chairman of the Board of Directors,
stated:
“2007 was another year of very strong growth for EDF Energies Nouvelles, both in terms of operational achievements and financial performance. We have met or exceeded all our objectives. Wind energy remains our key growth driver, and our development teams have done a tremendous job, enabling us to increase our wind energy generation portfolio by 50% over the past year and to launch the construction of some very large wind farms, notably in France and Portugal. 2007 also saw a decisive move into solar photovoltaic, which has become EDF Energies Nouvelles’ second expansion priority.”
OPERATIONAL ACHIEVEMENTS
2007 saw an acceleration in the pace of wind farm construction and commissioning.
The gross installed capacity of wind farms already in service rose to 1,218 MW at 31 December 2007, representing an increase of 50% on year-end 2006. All segments combined, installed capacity stood at 1,443 MW, up 39% compared with the end of 2006.
Farms under construction represented 1,100 MW in gross capacity as of 31 December 2007 compared with 615 MW one year earlier (up 79%).
All in all, the Group had 2,543 MW in gross capacity (1,666 MW net) either in service
or under construction as of 31 December 2007, compared with 1,652 MW (or 1,187 MW net) one year earlier, representing an increase of 54%. This strong growth reflects EDF Energies Nouvelles’ ability to expand both in Europe and the United States.
As part of its Development and Sale of Structured Asset business, EDF Energies Nouvelles continued to build wind farms for third parties during 2007, notably including two very large facilities in the United States with a total of 292 MW in capacity.
During 2007, the Group has intensified its development in the photovoltaic segment by
installing or starting construction of its first solar farms with 6 MWp in capacity at yearend 2007. To support this development over the coming years, the Group has signed
several solar panel procurement contracts covering a total of 362,5 MWp out to 2012.
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